Wolf Minerals in their latest presentation have CNQ listed below the red line on page 20 which indicates these companies have NEITHER a BFS NOR a financing deal for their main project.
And rightly so since CNQ abandoned the processing plant that was the subject of the BFS and now proposes a totally different plant that lacks a mill and 3/4 of the technical equipment in Dollar terms. The numbers listed in Wolf's presentation are these of the old full-scale $55M plant. Obviously the crippled plant can't achieve the same output and quality. Consequently, Woulfe concludes a BFS on CNQ's main project HAS NOT BEEN COMPLETED.
CNQ Price at posting:
5.6¢ Sentiment: Sell Disclosure: Held
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